Turtle Beach Corporation (NASDAQ:TBCH – Get Free Report) has earned an average recommendation of “Hold” from the seven analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $16.40.
A number of brokerages recently issued reports on TBCH. Wall Street Zen upgraded Turtle Beach from a “hold” rating to a “buy” rating in a research report on Saturday, October 3rd. Weiss Ratings reissued a “sell (d)” rating on shares of Turtle Beach in a research note on Friday, August 7th. Roth Capital restated a “buy” rating and set a $18.00 target price on shares of Turtle Beach in a research report on Thursday. Finally, Zacks Research upgraded Turtle Beach from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 6th.
Check Out Our Latest Stock Report on Turtle Beach
Turtle Beach Stock Performance
NASDAQ TBCH opened at $15.20 on Monday. Turtle Beach has a 1 year low of $9.84 and a 1 year high of $17.39. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.38 and a quick ratio of 1.30. The stock has a market capitalization of $272.23 million, a PE ratio of -72.38 and a beta of 2.36. The company’s 50 day simple moving average is $12.90 and its two-hundred day simple moving average is $12.40.
Turtle Beach (NASDAQ:TBCH – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.08). The firm had revenue of $56.37 million for the quarter. Turtle Beach had a negative net margin of 1.07% and a negative return on equity of 2.26%. Analysts predict that Turtle Beach will post 0.68 earnings per share for the current fiscal year.
Insider Buying and Selling at Turtle Beach
In other news, major shareholder Dc Vga Llc sold 5,671 shares of Turtle Beach stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $13.00, for a total transaction of $73,723.00. Following the completion of the sale, the insider owned 1,775,441 shares in the company, valued at approximately $23,080,733. This trade represents a 0.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.40% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in Turtle Beach by 26.1% during the first quarter. Dimensional Fund Advisors LP now owns 437,882 shares of the company’s stock valued at $4,440,000 after purchasing an additional 90,677 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Turtle Beach in the 2nd quarter worth approximately $741,000. Globeflex Capital L P purchased a new position in Turtle Beach in the 2nd quarter worth approximately $596,000. Pinnacle Holdings LLC purchased a new position in Turtle Beach in the 2nd quarter worth approximately $798,000. Finally, WINTON GROUP Ltd bought a new position in shares of Turtle Beach in the 2nd quarter worth $141,000. 67.01% of the stock is currently owned by institutional investors.
Turtle Beach Company Profile
Turtle Beach Corporation is a gaming technology company that develops and sells hardware, accessories and software for console, PC and mobile gaming. Its product portfolio includes gaming headsets, controllers, keyboards, mice, microphones, webcams, audio accessories and other peripherals designed for gamers and content creators.
The company markets products under the Turtle Beach brand and has expanded its offerings through additional gaming brands, including ROCCAT and PDP. Its products are distributed through retailers, e-commerce platforms and direct-to-consumer channels in North America, Europe and other international markets.
Turtle Beach traces its roots to the development of computer audio products and has evolved into a broader gaming-accessories provider.
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